Alumni Michael and Lucille Ferdinandi Support the Power of Opportunity through Scholarship Fund

Dr. V. Michael Ferdinandi ’71 and his wife, Mrs. Lucille Ferdinandi '70, have donated a $1.227 million planned gift establishing the V. Michael and Lucille Ferdinandi Endowed Scholarship, the second largest such gift in the college’s history. 

“This transformational gift, dedicated to supporting first-time, full-time freshmen enrolled at Rhode Island College who possess financial need and high academic standing, is renewable for up to four years and may cover the cost of tuition, housing, books, and other related expenses associated with matriculation at Rhode Island College,” says Ed Pacheco, executive director of the Rhode Island College Foundation, who stewarded the gift’s development. 

“I am grateful for Michael and Lucille’s deep commitment to this institution. Individuals like them will help to move the institution into the future. Their gift will have an extraordinary impact on students and will help us extend the college experience to students throughout Rhode Island,” says Frank D. Sánchez, president of Rhode Island College. 

For the Ferdinandis, the feeling is mutual. “When we met President Sánchez, we were impressed with the leadership he is providing to the institution,” says Michael. Lucille adds, “He energized us to get involved with his vision for the college.”  

The Power of Opportunity 
According to the couple, their gift was made possible because of the opportunities they had at Rhode Island College that prepared them for the future. “Life clearly would have been different,” recalls Michael, former Senior Vice President and Chief Human Resources Officer at Rhode Island-based CVS Caremark Corp. 

Working in the family business with his father since he was 12, Michael was indifferent about the thought of going to college. But, his mother, now 97, a registered nurse, and his father both valued education and pushed him to look at colleges and universities to further his education.  

When it came time, he had an opportunity to meet with John Foley in Admissions at RIC, who directed him to a program in industrial arts, and his journey began.   

At RIC, he started to think about the possibilities. “The biggest impact was the broadening of intellect that gives you the confidence to look beyond what is in front of you and being prepared to take on even more,” explains Michael. “There were a couple of professors I felt were truly invested in my success. I got to know them and it made staying there easier.” One professor, in particular, stood out. “I was not sure I would stay there or even graduate,” says Michael, but industrial arts professor Bill Kavanaugh “went beyond what was necessary and kept me motivated to succeed.”  

Something else important happened at RIC, too. Michael met Lucille Beaudoin, a Johnston native. Lucille also recalls, with fondness, meeting Michael “through mutual friends on campus.” That was 52 years ago. 

Now married for 48 years, the couple, share a passion for the value of education and understand that access to opportunity can make a difference in other people’s lives. “Both of us started out as teachers. I think that was really important. Taking advantage of higher education ourselves helped us appreciate how we could help others excel,” says Lucille. 

Lucille, an educator for more than 20 years, remembers that her own journey to RIC started with an eighth-grade class project. “We had to compose a career book so I started looking at different schools” to complete the project, she recalls. She went on to Rhode Island College and graduated with a degree in elementary education in 1970 and a master’s in counseling in 1975. At the time, career opportunities for young women were limited. “You could become a nurse, secretary or teacher. I wanted to be a secretary. It just was not on my radar the choices that you would have.” 

In talking about her time at RIC, Lucille notes that the opportunity to meet “people of different backgrounds who had different points of view” left an indelible mark on her through the years. 

“When I taught in Johnston, there were students who were capable, but there were missed opportunities – for themselves, Rhode Island and society – because they didn’t receive a degree,” she explains. “With a degree, they could have used their experiences and knowledge to benefit so many others in similar circumstances.” 

From the Classroom to the Boardroom and Back Again 
With both Bachelor and Master of Science degrees from Rhode Island College and a doctoral degree from Boston University, Michael’s career led him from the classroom to three of the country’s leading Fortune 20 companies, and later to the boardroom of a healthcare company.  

Michael joined CVS Caremark Corporation in 1999 following leadership roles with Ford Motor Company and PepsiCo. After a dozen years with CVS, he retired in 2012.  

But ever the educator, Dr. Ferdinandi returned to the classroom as an executive-in-residence at Palm Beach Atlantic University for seven years where he helped prepare students for successful career paths. “It’s very rewarding to see other people you can impact and help them succeed.” 

Reengaged at RIC 
With more time on their hands now, the couple had been thinking about opportunities to give back for a while. “We were busy raising own children, and put it on the back burner,” says Lucille. “Sometimes you need a spark along the way, catalyst to see where you need to put your energy.”  

“We do other things, but for this type of gift, both of us always felt that education was important and I always wanted to establish a scholarship for Johnston and Providence students,” she adds. “President Sánchez reengaged us with the school. We felt energized and it became clear that this was the right thing. It made the decision easy for us.” 

When asked what he would say to others about the importance of philanthropy, Michael offers, “People who have resources and have been successful should really be thinking about what they are going to leave behind and what they will do to have a positive impact on society. I am concerned that folks who have been successful do not think about that enough. Hopefully, our gift will encourage others to do the same.”  

The Ferdinandis, do not see this gift as the endpoint of their support for the college, and are looking ahead to what’s next. For instance, Michael will co-chair the upcoming fiftieth reunion for the Class of 1971. 

Lucille adds, “We want to do some work, too – volunteering and sitting down with students to guide them, or help them with orientation to make sure they do not fall through the cracks.”